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MFI Annapurna Finance attracts $15-M from French firm Proparco
Bhubaneswar-based micro-finance institution (NBFC-MFI) Annapurna Finance has raised USD 15 million (about INR 117 crore) from France-based Proparco in a Series A2 round. Annapurna Finance offers micro-credit loans, home improvement, and MSME loans to individuals and small businesses. It has a presence in 20 states with over 980 branches. It will use the new funds to grow its loan book, invest in technology, expand geographically and further scale financial inclusion. This is the fourth capital raise by the firm in the last 15 months, after attracting a USD 30 million investment from Nuveen Global Impact Fund in March 2021, USD 20 million from DEG in November 2021 and USD 35 million from Encourage Capital, Accion and existing investor Oikocredit.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.